Taiwan boxing chief quits after power struggle

LAUSANNE: The Taiwanese head of amateur boxing’s governing body Wu ChingKo has resigned after a power struggle involving accusations of financial mismanagement.

A joint statement from the International Boxing Association (AIBA) and Ching-Ko said: “After 11 years as AIBA president, Wu has decided to step down from his position.”

The statement said both parties had “amicably agreed to resolve the management issues within AIBA and to withdraw and terminate all related pending procedures before civil courts and AIBA Disciplinary Commission.”

Ching-Ko said he had taken the decision to walk away “for the sport I love and have dedicated my life to.”

He said he was acting “in the best interests of both AIBA and boxing” and said he was committed to “a smooth handover” to the new leadership.

Italy’s Franco Falcinelli will remain interim president.

Ching-Ko also resigned from the International Olympic Committee Executive Board, an IOC spokesperson told AFP.

In a bitter struggle within boxing, ChingKo’s rivals said he had racked up debts worth 15 million Swiss francs (RM62 million).

But Ching-Ko had insisted the AIBA was financially healthy and accused his detractors of mounting “a military coup.”